********POSITIONAL STRATEGY-----Ideal Strategy- INITIATE LONG.
---Do not hold long if closes below-4387.
--- Visit the page to understand how to implement positional strategy during trading hours……….. http://niftydoctor.blogspot.com/2009/04/opening-range-breakout.html
---The positional strategy is based on my mechanical trading system.
********CUES--
--Nifty August future premium increased to 7 points so cost of carry increased. (Bullish)
--Nifty open interest increased by 6 lacs suggests long addition. (Total OI now at 2.76 cr)
--Nifty calls shed 25 lacs and puts added 20 lacs in open interest. (Bullish)
--Nifty open interest put-call ratio is at 1.09.
--4500 puts had open interest of 40 lacs (+21%) and 4700 calls had open interest of 40 lacs (-9%), so 4500 and 4700 will be important levels to watch for.
--India VIX closed at 38.51, increased by 4% suggests instability. (Bearish)
--In Nifty stocks, advance-decline ratio is at 46/4. (Bullish)
